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HLO: Hunter Travel Group Investment

August 3, 2017 Business News No Comments Email Email

Helloworld Travel Limited (ASX: HLO) today announced that it had agreed to purchase a minority shareholding in Newcastle based Hunter Travel Group (HTG). HTG operates seven fully branded Helloworld Travel stores in Newcastle and surrounding areas together with two Cruise Travel Centres. HTG also operates eight Royal Automobile Club of Tasmania (RACT) travel outlets in Tasmania in partnership with the RACT and one Cruise Travel Centre in Hobart. The HTG business employs over 100 staff and has Total Transaction Values of over $120 million per annum.

HLO also announced that it had agreed to sell a 75% stake in HLO’s seven wholly owned retail outlets to HTG. These outlets, located in Maroochydore (QLD), Knox Westfield and Toorak (VIC), Eastgardens Westfield and Parramatta Westfield (NSW), Canberra City (ACT) and Bunbury (WA) are all fully branded Helloworld Travel outlets and the 31 staff located at these stores will transition from Helloworld Travel upon completion.

This will take to fourteen the number of Helloworld Travel fully branded and to eleven the number of Helloworld Associate stores owned and operated by HTG around Australia.

“We are delighted to partner with our largest multi-franchise operator and see them expand their retail footprint. HTG is a multi-award winning travel retailer and it is exciting to see a regionally based business expanding nationally” said Helloworld Travel CEO Andrew Burnes.

Brett Dann, CEO of HTG said “the partnership is a very important step in the development of HTG’s retail travel business and now gives the HTG business operations in most states”.

“We are thrilled to strengthen our partnership with Helloworld Travel Limited. The alliance will enable the expanded business to leverage the combined size and drive efficiencies in their respective operations through shared systems, accounting functions, sales support and marketing activities. We look forward to welcoming the new stores to the HTG family and working with them to create a bright and prosperous future.” he added.

CEO Andrew Burnes added “This is a great outcome for Helloworld Travel Limited and one that builds on our current momentum and success, evidenced most recently by our multiple award wins at the 2017 AFTA National Travel Industry Awards event. Helloworld Travel was awarded the Best Travel Agency Group for the second year running while our wholesale brands, Sunlover Holidays, Qantas Holidays & Viva Holidays were recognised as the best Wholesaler in both the Domestic and International categories.”

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